UnionBank of the Philippines

UBP was founded in August 1968 as a savings bank and was granted its commercial banking license by the Bangko Sentral ng Pilipinas in 1982. In July 1992, UBP received its license to operate as a universal bank. In 1994, it successfully acquired and merged with the International Corporate Bank, widening its business scope and presence in the Philippines. That same year, UBP embarked on a comprehensive corporate restructuring program through investments in technology, creation of new products and the development of on-line banking capabilities, all of which have become the bank's competitive strengths.

As part of its growth strategy, UBP acquired the International Exchange Bank (iBank) in June 2006. The acquisition and merger of iBank catapulted UBP to being the 6th largest private domestic commercial bank in terms of assets, 9th largest in terms of net loan portfolio and 8th largest in terms of deposits. It likewise ranked 7th largest in terms of branch network with 166 branches. In April 2007 UBP undertook a primary offering of 90 million new common shares which allowed UBP to raise additional equity of over P5.1 billion. The purpose of the offering was to raise UBPÕs equity to strengthen its capital adequacy ratio in anticipation of Basel II requirements and further enhance its financial flexibility.

At present, AEV beneficially holds approximately 36.22% of UBP. Other major shareholders of UBP are Insular Life Assurance Company, Ltd. and the Social Security System. As a universal bank, UBP provides a broad range of services such as loan and deposit products, consumer finance products, international banking, cash management, money market, trust banking, credit card and treasury services and electronic banking products to corporate, mid-sized corporations, small and medium enterprises and retail consumers. UBP is focused on meeting changes in customer needs through technological advancements and seeks to remain at the forefront of technology-based banking in the Philippines. UBP believes that use of technology and its operational structure has enabled it to capture and secure a loyal customer base as well as to achieve high levels of efficiency and productivity. As part of its future growth strategy, UBP aims to establish itself as a leading multi-product financial services bank in the Philippines by increasing its share of the banking business for all market segments through providing a full range of financial products and services.

UBP focuses on cash management services and solutions for corporate clients. With its extensive technical capabilities, it has found a niche for providing a whole range of receivables and payables management products and services for both local and multinational corporate clients. UBP has begun to tap into the market of small and medium-sized companies by offering corporate solutions previously available only to large corporations.

UBP has received various awards for its achievements. In 2001, UBP received the ÒExcellence in Retail Banking AwardÓ from The Asian Banker for being the best retail bank in the Philippines. In December 2002, the Bank was voted by Euromoney as being one of ÒThe 10 Best Managed Companies in Asia in 2002Ó. In January 2003, UBP was voted by AsiaMoney as being ÒAmong the 5 Best Managed Companies in the Philippines in 2002Ó. In 2004, UBP's official website, "UBPph.com" was awarded the Best in Functionality and Interactivity award at the BAIPHIL Web Awards, and the Best Banking and Finance Website award as well as the PeopleÕs Choice for Banking and Finance at the Philippine Web Awards. In February 2008, UBP received the ÒFinancial Insights Innovation AwardÓ from Financial Insights for its Business-to-Government (B2G) Payments

www.unionbankph.com
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